KANSAS LIFE & HEALTH
INSURANCE FINAL EXAM 150
QUESTION AND ANSWER
2025
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
,1.
Question: When can a policy owner change a revocable beneficiary?
Answer: Anytime
2.
Question: J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used?
Answer: Revocable
3.
Question: M purchased an Accidental Death and Dismemberment (AD&D) policy and
named his son as beneficiary. M has the right to change the beneficiary designation at
any time. What type of beneficiary is his son?
Answer: Revocable Beneficiary
4.
Question: Revocable beneficiary
Answer: the policy owner may change the beneficiary at any time without notifying or
getting permission from the beneficiary.
5.
Question: K is the insured and P is the sole beneficiary on a life insurance policy. Both
are involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true?
Answer: Proceeds will be paid to K's estate if P dies within a specified time
6.
Question: How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?
Answer: If the primary beneficiary dies before the insured
7.
, Question: Which statement is true regarding a minor beneficiary?
Answer: Normally, a guardian is required to be appointed in the Beneficiary clause of
the contract
8.
Question: A life insurance application must be signed by all of these EXCEPT
Answer: Beneficiaries are not required to sign an insurance application
9.
Question: K applies for a life insurance policy on herself and submits the initial
premium with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
Answer: A conditional receipt indicates that certain conditions must be met in order for
the insurance coverage to go into effect.
10.
Question: P is a producer who notices 5 questions on a life application were not
answered. What actions should P take?
Answer: Schedule another appointment with the applicant to complete the
unanswered questions
11.
Question: M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect EXCEPT
Answer: Free-look period has expired
12.
Question: An applicant's medical information received from the Medical Information
Bureau (MIB) may be furnished to the
Answer: Applicant's physician
13.
INSURANCE FINAL EXAM 150
QUESTION AND ANSWER
2025
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
,1.
Question: When can a policy owner change a revocable beneficiary?
Answer: Anytime
2.
Question: J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used?
Answer: Revocable
3.
Question: M purchased an Accidental Death and Dismemberment (AD&D) policy and
named his son as beneficiary. M has the right to change the beneficiary designation at
any time. What type of beneficiary is his son?
Answer: Revocable Beneficiary
4.
Question: Revocable beneficiary
Answer: the policy owner may change the beneficiary at any time without notifying or
getting permission from the beneficiary.
5.
Question: K is the insured and P is the sole beneficiary on a life insurance policy. Both
are involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true?
Answer: Proceeds will be paid to K's estate if P dies within a specified time
6.
Question: How would a contingent beneficiary receive the policy proceeds in an
Accidental Death and Dismemberment (AD&D) policy?
Answer: If the primary beneficiary dies before the insured
7.
, Question: Which statement is true regarding a minor beneficiary?
Answer: Normally, a guardian is required to be appointed in the Beneficiary clause of
the contract
8.
Question: A life insurance application must be signed by all of these EXCEPT
Answer: Beneficiaries are not required to sign an insurance application
9.
Question: K applies for a life insurance policy on herself and submits the initial
premium with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
Answer: A conditional receipt indicates that certain conditions must be met in order for
the insurance coverage to go into effect.
10.
Question: P is a producer who notices 5 questions on a life application were not
answered. What actions should P take?
Answer: Schedule another appointment with the applicant to complete the
unanswered questions
11.
Question: M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect EXCEPT
Answer: Free-look period has expired
12.
Question: An applicant's medical information received from the Medical Information
Bureau (MIB) may be furnished to the
Answer: Applicant's physician
13.
